Students will build Grade 6 mastery of financial literacy - budgeting and saving using models, equations, and test-style reasoning.
Marcus earns \($250\) per week mowing lawns. He budgets \(40\%\) for expenses, \(25\%\) for savings, and the rest for spending. How much does he save each week?
Sophia receives \($120\) allowance per month. She spends \(30\%\) on music lessons. How much does she spend on music lessons?
A student saves \($15\) out of every \($100\) earned. What percentage of earnings does the student save?
Tyrone earns \($80\) per week. His budget allocates \(20\%\) for food, \(15\%\) for entertainment, and \(10\%\) for savings. How much does he spend on food?
Aisha's monthly budget is shown in the pie chart above. If her monthly income is \($2000\), how much does she allocate to rent?
From the pie chart above, how much does Aisha allocate to food and utilities combined?
A family's monthly expenses are: Rent \($800\), Utilities \($150\), Food \($400\), and Transportation \($250\). What is their total monthly expense?
A family budgets \($1500\) per month but has actual expenses of \($1700\). What is the shortfall (amount over budget)?
Savings are \(25\%\) of \($250\): \(0.25 \times 250 = $62.50\).
Calculate \(30\%\) of \($120\): \(0.30 \times 120 = $36\).
The ratio is \(\frac{15}{100} = 0.15 = 15\%\).
Food budget is \(20\%\) of \($80\): \(0.20 \times 80 = $16\).
Rent is \(30\%\) of income: \(0.30 \times 2000 = $600\).
Food and utilities: \(25\% + 20\% = 45\%\) of \($2000 = 0.45 \times 2000 = $900\).
Sum all expenses: \(800 + 150 + 400 + 250 = $1600\).
Shortfall is Expenses minus Budgeted Amount: \($1700 - $1500 = $200\).
